With the announcement that Thailand was introducing a new SMART Visa as an alternative to the non-B visa and work permit combination of old, startups around the country had a reason to rejoice.
But they weren’t alone in celebrating. The entire business community saw this as a necessary step forward in boosting the economy and promoting Thailand’s tech industry.
The movers and shakers of the Thai business world recognise that startups represent the future of business in Thailand. And they need all the help they can get in getting themselves off the ground and reaching a profitable and sustainable level. Their contributions will provide much-needed technology, products, and jobs to the whole of Thailand.
The technology they provide will shape the way that manufacturing is done in the future. The products they provide will make Thais lives easier and more productive. And the jobs they will create will change the direction of Thai education and make it more goal-oriented towards STEM curricula in schools and universities.
The SMART Visa signals the start of a revolution in not just the direction of the Thai economy, but in the country as a whole, making a significant leap forward toward the goal of Thailand 4.0.
The SMART Visa targets those who are most beneficial and needed by the next generation of industries in Thailand. The Thai government has named thirteen separate industry areas that will reap the benefits of this visa. The industries run the gamut of technology-oriented products and services such as smart electronics, biofuels and biochemical, and environmental management and renewable energy. You can find out which specific industries are targeted by visiting this website.
By creating this special visa within these industries, the government hopes to stimulate these thirteen different industries and give them a kick-start that will enable the country to reach the goal of Thailand 4.0 sooner.
The SMART Visa is available to all foreign talent within these named business sectors. This means that people who have recognised expertise in these business sectors will be recruited to serve as inspiration and mentors to the newly trained generation of Thais entering the workforce.
The visa will also apply to foreign investors who fund the startups and established companies within the targeted industries.
Executives who are working for established foreign companies within the thirteen industries are also eligible for the SMART visa. Thailand realises that it must open its doors to multi-national, established companies that further the country’s goals.
Startup entrepreneurs represent the growth of new ideas and innovations that can be transformed into businesses that will benefit the country. This new category of visa specifically targets those entrepreneurs who will create new companies on Thai soil.
These special people are to be encouraged to come to Thailand. To do this, the visa will also be extended to their spouses and legitimate dependents.
True Digital Park (TDPK) is excited by this programme and fully supports and encourages its implementation. To this end, TDPK is offering companies registered at TDPK a special consideration. The startups can seek an endorsement letter from TDPK to increase your chance of getting an affirmative reply on your smart visa application.
Additionally, every company registered at TDPK that qualifies for BOI benefits will also become eligible for an additional one-year corporate income tax exemption.
This is TDPK’s way of supporting this new revolution in the future of Thailand’s business economy. We look forward to many new startups joining the TDPK family of new businesses.